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Tullow hits the mark with its first Guyana discovery

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12 August 2019

Tullow hits the mark with its first Guyana discovery

Report summary

Jethro is the first commercial discovery in Guyana outside ExxonMobil's Stabroek block. It will increase investor and operator confidence that the Guyana basin holds a world-class petroleum system with multiple play-types containing commercially-viable volumes. A fast-tracked development will add to Guyana's new oil revenues which will have a transformational impact in the country's economy. For Tullow Oil, the discovery offers some relief as investor's confidence started to dwindle after disappointing exploration results elsewhere. Partners Total and Qatar Petroleum add to a strike of success in global exploration with their third discovery in 2019.

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